Rissala Electric Motors bets big on ‘Evolet’ Electric Vehicles
New Delhi, November 7, 2019: Evolet India, a Gurugram Based Startup, came up with an innovative idea to showcase the performance of its products during an event to set up its distributorship and dealership network for its electric vehicles range in Punjab and Chandigarh. The company representatives drove the base model of their e-scooter Pony from Chandigarh to Delhi -- a journey of 250 km. Company spokesperson highlighted the need as people should know what they are buying and how sturdy their vehicle is. The e-scooter can cover 65 km in one charge with top speed of 25 km per hour and has option of swappable batteries. A team from Evolet accompanied the riders on their journey to meet their need of extra battery.
A part of Rissala Electric Motors Pvt. Ltd. (REM), Evolet is a brand of new-age electric scooters, motorcycles, quad bikes, ambulances and buses with ARAI and ICAT certification that are being manufactured at its plants at Haryana, Hyderabad and Chennai. The key cities identified for dealerships and distributorship in Punjab includes Ludhiana, Amritsar, Patiala besides Chandigarh. The plan has been formalized for opening around 10 dealerships by March 2020 with target sales of around 150 units per month per dealer.
Commenting on the initiative, Sqn Ldr Prerana Chaturvedi, Executive Director & CEO - Evolet said, “A number of factors including a positive change in customer perception, technological advancement and greater intervention from government are combining to focus attention on EV adoption. This presents a good business opportunity for those who want to open 2W EV showrooms in Punjab and Chandigarh. Evolet range of models aptly addresses the requirement of all age groups and provides higher revenue earning potential for its commercial customers”.
The special highlight for Punjab territory will be the launch of its Hi-speed vehicle range (2w) and upgraded version of Warrior (ATV) with built-in special accessories, an off roader but with on field experience for the customers. The plan is to launch these models in January 2020. Next year Evolet also plans to expand its dealership network in Punjab by adding around 3-4 dealerships per month and aims for around 30-35 dealerships. The showrooms will be operated and owned by individual dealers, who will bear the cost of infrastructure while promotional
cost will be shared by both the dealer and the company. The company aims to give 7% per cent profit margin to the dealers per model.
The company is focusing on the cities where the two-wheeler traction is maximum with an intention to move up its sales target of 1000 units a month by the end of this year. Beyond this dealer would be getting the extra benefits through the incentive schemes run by the company. After sales service, spare parts and accessories business is another revenue centre for the dealer. Apart from dealership network, Evolet is also targeting institutional sales and corporate sales to widen its domestic base. It launched its products in standard segment targeting riders of all age groups. Beyond this upcoming launches will include models for executives and premium segments too.
Sqn Ldr Prerana Chaturvedi, Executive Director & CEO, Evolet said, “In line with our objective to establish a nationwide presence, our electric-scooter venture, Evolet aims to open 100 plus dealerships across India by end of 2020. We are aggressively charting our plan and are targeting sales of around 150 units per month per dealership. We have finalized our dealerships in the states of Maharashtra, Uttar Pradesh, Bihar, Punjab, Chandigarh, Rajasthan, Haryana, Telangana besides Nepal and Bangladesh, the showrooms of which will come up by March 2020”. Evolet has also identified key exports markets within Asia Pacific and the middle east and plans to start exporting of products by 2020.
Brand Evolet, along with its range of models were recently launched at Delhi on 4th September, 2019 with subsequent opening up of its flagship showroom at Gurugram. Prices of its models; Polo, Pony, Derby, Warrior, Falcon ranges between Rs 39,000/- to Rs 64,000/-. These models are fully equipped with latest advanced features such as IOT enabled, giving riders information on battery health, charging status, and security tracking on the phone using GPS besides reliability & mileage thus eliminating ‘range anxiety’ as well. Efficient after sales service, quick availability of spare parts, and light weight swappable batteries are topmost strategies of Evolet for ensuring high customer satisfaction.
The key to company's pricing is the seamless integration of vehicle with power train, synchronised with in-house built BMS, communication through the in-house built IOT to the in-house built mobile application. This seamless integration of the key components that are all built in-house offers an acute price advantage and complete control over services offered while creating greater efficiency and improving the users experience.
The company’s Bilaspur, Haryana, facility has a capacity of manufacturing 3.5 lakh two-wheelers per annum with a built-up area of 1.4 lakh sq. ft. Also, spreading over 2 lakh sq. ft. both its Hyderabad and Chennai facilities too are fully-equipped to churn out 1500 buses per annum. The company also plans to set up series of battery charging stations with solar panels in various cities for ease of EV customers. Sqn Ldr Prerana Chaturvedi, Executive Director & CEO, Evolet, adds, “We are focussing on the charging infrastructure for electrification of automotive industry. We are doing meaningful things to secure charging infrastructure not only for Evolet customers but for other brands as well”.